The consortium is designed to provide comprehensive coverage for large corporations with annual revenues exceeding $1 billion. It brings $100 million of additional capacity to the cyber insurance market.
Beazley Quantum will be led by the insurer’s renowned cyber underwriting and claims handling teams and is available through the Global Wholesale platform at Lloyd’s.
Paul Bantick, Beazley’s Chief Underwriting Officer, emphasised the company’s strategic focus on building a robust cyber insurance market. “As a leader in the cyber space, we have steadfastly taken strategic steps to build a thriving and sustainable cyber insurance market.”
The introduction of Beazley Quantum strengthens Beazley’s position as a key player in the growing global market for cyber risk management solutions.
He added “With the launch of Beazley Quantum, we are directly addressing the needs of large corporates and delivering much-needed additional capacity to these businesses that are on the front lines of the cyber threat,” Bantick said.
